Soybean Futures Climb Near Four-Week High

grains recap
grains recap
(Commodity Update)

Corn: December corn rose 2 1/4 cents to $6.03, the contract’s highest closing price since $6.10 3/4 on July 18. Corn rose a third consecutive day on spillover support from gains in soybeans, which rallied on concern a return of extreme heat to the Midwest next week will harm yield potential.

Soybeans: November soybeans jumped 26 1/4 cents to $14.10, the contract’s highest close since June 30. September soymeal rose $11.00 to $446.00. September soyoil rallied 106 points to 59.85 cents. Soybeans gained a fourth straight day on concern heat and dryness forecast for the Midwest during the first 10 days of August may harm yield potential.

Wheat: September SRW wheat fell 13 1/2 cents to $7.90 1/4. September HRS futures fell 15 1/4 cents to $8.61 3/4. September spring wheat fell 18 3/4 cents to $9.10. Spring wheat led declines as the Wheat Quality Council’s annual crop tour projected above-average yields for North Dakota.

Cattle: August live cattle fell 7.5 cents to $136.80, while October futures fell 5 cents to $142.325. August feeder cattle rose $1.675 to $179.10. Nearby live cattle fell slightly amid expectations the cash market will extend a three-week slide. Futures remained underpinned by signs domestic beef demand is holding up reasonably well despite widespread recession concerns.

Hogs: August lean hogs rose $1.625 to $118.60, while October futures surged $2.80 to $96.45, a three-month closing high. Strength in cash fundamentals continued to underpin futures. The CME lean hog index rose 35 cents to $119.48, the highest level since June 2021, and is expected to gain another 25 cents tomorrow.

 

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Grains Try to Recover Midday with Reversal in Outside Markets:  Live Cattle Mixed with Bullish Cattle Inventory Expectations
Grains Try to Recover Midday with Reversal in Outside Markets: Live Cattle Mixed with Bullish Cattle Inventory Expectations

Grains try to recover midday with help from the reversal in outside markets. LC mixed with bullish hopes for the USDA Cattle Inventory Report.  Hogs lower. Scott Varilek of Kooima Kooima Varilek has details.  

Grains Start Higher on Weather Concerns in Argentina and HRW Areas, Then Corn Fails: Cattle Higher with $1 Better Southern Cash Friday
Grains Start Higher on Weather Concerns in Argentina and HRW Areas, Then Corn Fails: Cattle Higher with $1 Better Southern Cash Friday

Grains higher early with technical buying and a drier Argentina weather concerns. Cattle higher with $1 higher cash on Friday. Hogs back lower.  Michelle Rook has a quick update.  

Today's Market Recap (1.20.23)
Today's Market Recap (1.20.23)

Market recaps for corn, soybeans, wheat, cattle & hogs.

Improving Argentine Weather Forecasts Weigh on Grain, Soy
Improving Argentine Weather Forecasts Weigh on Grain, Soy

Forecasts of improving weather in Argentina over the next two weeks weighed on the grain and soy complex.

Corn, Soybeans & Wheat Prices Fall; Cattle Mixed
Corn, Soybeans & Wheat Prices Fall; Cattle Mixed

Today's closing prices and market recaps.